Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jun. 30, 2015 | Jul. 24, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Eureka Financial Corp. | |
Entity Central Index Key | 1,501,350 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 1,207,408 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Assets: | ||
Cash and due from banks | $ 848,454 | $ 698,899 |
Interest-bearing deposits in other banks | 7,434,313 | 8,941,044 |
Cash and cash equivalents | 8,282,767 | 9,639,943 |
Investment securities available for sale | 6,428,700 | 8,403,565 |
Investment securities held to maturity (fair value of $2,749,736 and $2,740,940, respectively) | 2,768,553 | 2,772,470 |
Mortgage-backed securities available for sale | 3,374 | 5,585 |
Federal Home Loan Bank ("FHLB") stock, at cost | 131,900 | 302,500 |
Loans receivable, net of allowance for loan losses of $1,431,038 and $1,361,038, respectively | 133,129,811 | 128,030,483 |
Premises and equipment, net | 1,034,296 | 1,073,073 |
Deferred tax asset, net | 893,842 | 832,735 |
Other real estate owned | 539,735 | |
Accrued interest receivable and other assets | 1,412,606 | 1,126,697 |
Total Assets | 154,625,584 | 152,187,051 |
Liabilities and Stockholders' Equity: | ||
Non-interest bearing deposits | 5,146,561 | 5,639,321 |
Interest bearing deposits | 123,965,426 | 122,221,240 |
Total deposits | 129,111,987 | 127,860,561 |
Advances from borrowers for taxes and insurance | 710,365 | 633,159 |
Accrued interest payable and other liabilities | 1,384,694 | 999,554 |
Total Liabilities | 131,207,046 | 129,493,274 |
Stockholders' Equity: | ||
Common stock, $.01 par value; 10,000,000 shares authorized; 1,207,408 shares outstanding at June 30, 2015; 1,213,986 shares outstanding at September 30, 2014 | 12,074 | 12,140 |
Paid-in capital | 10,030,616 | 10,025,400 |
Retained earnings - substantially restricted | 13,839,138 | 13,179,662 |
Accumulated other comprehensive loss | (105,354) | (121,279) |
Unearned ESOP shares | (357,936) | (402,146) |
Total Stockholders' Equity | 23,418,538 | 22,693,777 |
Total Liabilities and Stockholders' Equity | $ 154,625,584 | $ 152,187,051 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Consolidated Balance Sheets [Abstract] | ||
Investment securities held to maturity, fair value | $ 2,749,736 | $ 2,740,940 |
Loans receivable, allowance | $ 1,431,038 | $ 1,361,038 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares outstanding | 1,207,408 | 1,213,986 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest Income | ||||
Loans, including fees | $ 1,640,846 | $ 1,627,134 | $ 4,918,693 | $ 4,853,910 |
Investment securities and other interest-earning assets: | ||||
Taxable | 53,206 | 58,673 | 203,534 | 148,684 |
Tax exempt | 20,440 | 22,198 | 64,875 | 67,308 |
Mortgage-backed securities | 59 | 90 | 217 | 359 |
Total Interest Income | 1,714,551 | 1,708,095 | 5,187,319 | 5,070,261 |
Interest Expense | ||||
Deposits | 211,091 | 205,465 | 622,967 | 653,207 |
FHLB advances | 3,531 | 10,147 | ||
Total Interest Expense | 211,091 | 208,996 | 622,967 | 663,354 |
Net Interest Income | 1,503,460 | 1,499,099 | 4,564,352 | 4,406,907 |
Provision for Loan Losses | 10,000 | 25,000 | 70,000 | 50,000 |
Net Interest Income after Provision for Loan Losses | 1,493,460 | 1,474,099 | 4,494,352 | 4,356,907 |
Non-Interest Income | ||||
Fees on deposit accounts | 10,172 | 8,452 | 28,248 | 24,198 |
Other income | 9,978 | 37,814 | 50,416 | 62,734 |
Total Non-Interest Income | 20,150 | 46,266 | 78,664 | 86,932 |
Non-Interest Expense | ||||
Salaries and benefits | 574,313 | 547,466 | 1,675,361 | 1,609,654 |
Occupancy | 85,408 | 84,694 | 267,485 | 264,398 |
Data processing | 64,377 | 68,708 | 191,990 | 202,397 |
Professional fees | 76,252 | 90,665 | 274,523 | 250,044 |
Federal Deposit Insurance Corporation premiums | 18,150 | 18,150 | 54,450 | 51,700 |
Other | 118,710 | 102,271 | 373,711 | 351,627 |
Total Non-Interest Expenses | 937,210 | 911,954 | 2,837,520 | 2,729,820 |
Income Before Income Tax Provision | 576,400 | 608,411 | 1,735,496 | 1,714,019 |
Income Tax Provision | 185,248 | 206,017 | 591,914 | 599,878 |
Net Income | $ 391,152 | $ 402,394 | $ 1,143,582 | $ 1,114,141 |
Earnings per Common Share - Basic | $ 0.34 | $ 0.34 | $ 0.98 | $ 0.93 |
Earnings per Common Share - Diluted | $ 0.34 | $ 0.34 | $ 0.98 | $ 0.93 |
Consolidated Statement Of Compr
Consolidated Statement Of Comprehensive Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statement Of Comprehensive Income [Abstract] | ||||
Net income | $ 391,152 | $ 402,394 | $ 1,143,582 | $ 1,114,141 |
(Increase) decrease in unrealized losses on available for sale securities | (117,558) | 140,279 | 24,098 | 327,443 |
Income tax effect | 39,990 | (47,695) | (8,173) | (111,330) |
Other comprehensive (loss) income, net of tax: | (77,568) | 92,584 | 15,925 | 216,113 |
Total comprehensive income | $ 313,584 | $ 494,978 | $ 1,159,507 | $ 1,330,254 |
Consolidated Statement Of Chang
Consolidated Statement Of Changes In Stockholders' Equity - 9 months ended Jun. 30, 2015 - USD ($) | Common Stock [Member] | Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) [Member] | Unearned ESOP Shares [Member] | Total |
Balance at Sep. 30, 2014 | $ 12,140 | $ 10,025,400 | $ 13,179,662 | $ (121,279) | $ (402,146) | $ 22,693,777 |
Balance, Shares at Sep. 30, 2014 | 1,213,986 | |||||
Net income | 1,143,582 | 1,143,582 | ||||
Other comprehensive income | 15,925 | 15,925 | ||||
Compensation expense related to restricted stock | 64,397 | 64,397 | ||||
Compensation expense related to stock options | 15,350 | 15,350 | ||||
Compensation expense on ESOP | 50,187 | 44,210 | 94,397 | |||
Retirement of common stock | $ (66) | (124,718) | (124,784) | |||
Retirement of common stock, Shares | (6,578) | |||||
Dividends on common stock ($.40 per share) | (484,106) | (484,106) | ||||
Balance at Jun. 30, 2015 | $ 12,074 | $ 10,030,616 | $ 13,839,138 | $ (105,354) | $ (357,936) | $ 23,418,538 |
Balance, Shares at Jun. 30, 2015 | 1,207,408 |
Consolidated Statement Of Chan7
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) | 9 Months Ended |
Jun. 30, 2015$ / shares | |
Consolidated Statement Of Changes In Stockholders' Equity [Abstract] | |
Common stock, dividends per share | $ 0.40 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 9 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
OPERATING ACTIVITIES | ||
Net income | $ 1,143,582 | $ 1,114,141 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of premises and equipment | 104,886 | 112,449 |
Provision for loan losses | 70,000 | 50,000 |
Net accretion/amortization of discounts and premiums on securities and unamortized loan fees and costs | (1,875) | 1,050 |
Compensation expense for ESOP, restricted stock, and stock options | 174,144 | 152,504 |
Increase in deferred tax expense | (69,280) | (18,140) |
Decrease in accrued interest receivable | 28,944 | 29,801 |
Decrease in prepaid income tax | 18,394 | |
Increase (decrease) in accrued interest payable | 23,965 | (1,646) |
Decrease in retirement fund obligation | (80,979) | (33,957) |
Other, net | 106,804 | (205,121) |
Net cash provided by operating activities | 1,518,585 | 1,201,081 |
INVESTING ACTIVITIES | ||
Proceeds from maturities and redemptions of investment securities available for sale | 3,500,000 | 1,500,000 |
Proceeds from maturities and redemptions of investment securities held to maturity | 5,000 | 5,000 |
Purchase of investment securities available for sale | (1,500,000) | (1,750,000) |
Net paydowns in mortgage-backed securities available for sale | 1,966 | 2,294 |
Purchase of FHLB stock | (52,000) | (361,800) |
Redemption of FHLB stock | 222,600 | 100,000 |
Net decrease (increase) in loans | 894,459 | (1,263,194) |
Commercial leases purchased | (6,600,761) | (3,957,242) |
Premises and equipment expenditures | (66,109) | (47,356) |
Net cash used for investing activities | (3,594,845) | (5,772,298) |
FINANCING ACTIVITIES | ||
Net increase in deposit accounts | 1,251,426 | 5,065,308 |
Proceeds from FHLB borrowings | 8,000,000 | |
Repayment of FHLB borrowings | (3,500,000) | |
Net increase in advances from borrowers for taxes and insurance | 77,206 | 160,937 |
Purchase and retirement of common stock | (124,784) | (160,827) |
Payment of dividends | (484,764) | (350,663) |
Net cash provided by financing activities | 719,084 | 9,214,755 |
Net (decrease) increase in cash and cash equivalents | (1,357,176) | 4,643,538 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 9,639,943 | 7,181,069 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 8,282,767 | 11,824,607 |
SUPPLEMENTAL INFORMATION | ||
Interest paid | 599,002 | 667,618 |
Income taxes paid | 642,000 | $ 787,000 |
Noncash investing transaction: | ||
Transfers from loans to other real estate owned | $ 536,974 |
Nature Of Operations And Signif
Nature Of Operations And Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2015 | |
Nature Of Operations And Significant Accounting Policies [Abstract] | |
Nature Of Operations And Significant Accounting Policies | Note 1 — Nature of Operations and Significant Accounting Policies Eureka Financial Corp., a Maryland corporation (the “Company”), and its wholly-owned subsidiary, Eureka Bank (the “Bank”), provide a variety of financial services to individuals and corporate customers through its main office and branch located in Southwestern Pennsylvania. The Bank’s primary deposit products are interest-bearing checking accounts, savings accounts and certificates of deposits. Its primary lending products are single-family residential loans, multi-family and commercial real estate loans, and commercial leases and loans. Unaudited Interim Financial Statements The accompanying unaudited consolidated financial statements were prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for interim information. The accompanying unaudited consolidated financial statements for the interim periods include all adjustments, consisting of normal recurring accruals, which are necessary, in the opinion of management, to fairly reflect Eureka Financial Corp.’s consolidated financial position and results of operations. Additionally, these consolidated financial statements for the interim periods have been prepared in accordance with the instructions to the SEC’s Form 10-Q and Article 10 of Regulation S-X and therefore do not include all information or footnotes necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). For further information, refer to the audited consolidated financial statements and footnotes thereto for the year ended September 30, 2014, as contained in the Company’s Annual Report on Form 10-K filed with the SEC on December 29, 2014. The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, valuation of deferred tax assets and other-than-temporary impairment of investment securities. The results of operations for the interim quarterly or year to date periods are not necessarily indicative of the results that may be expected for the entire fiscal year or any other period. Earnings Per Share Basic earnings per share excludes dilution and is computed by dividing net income by weighted-average shares outstanding. Unallocated shares held by the Bank’s employee stock ownership plan are not deemed outstanding for earnings per share calculations. Diluted earnings per share is computed by dividing net income by weighted-average shares outstanding plus potential common stock resulting from dilutive stock options. Common shares that have been repurchased are not deemed outstanding for earnings per share calculations. The following is a reconciliation of the numerator and denominator of the basic and dilutive earnings per share computations for net income for the three and nine months ended June 30, 2015 and 2014. For the Three Months Ended For the Nine Months Ended June 30, June 30, 2015 2014 2015 2014 Weighted average common shares outstanding Average unearned ESOP shares Average unearned restricted shares Weighted average common shares and common stock equivalents used to calculate basic and diluted earnings per share Additional common stock equivalents (restricted shares) used to calculate diluted earnings per share - Additional common stock equivalents (stock options) used to calculate diluted earnings per share Weighted average common shares and common common stock equivalents used to calculate basic and diluted earnings per share Basic and diluted earnings per share $ $ $ $ Options to purchase 64,907 shares of common stock at a price of $15.24 per share were outstanding at both June 30, 2015 and 2014. All of the options were considered dilutive based on the weighted average market value exceeding the weighted average stock price. Options to purchase 3,818 shares of common stock at a price of $21.52 per share were outstanding at June 30, 2015. No shares were included in the computation of diluted earnings per share because doing so would have been anti-dilutive as the weighted average exercise price was in excess of the weighted average market value. Reclassifications Certain comparative amounts from the prior year period have been reclassified to conform to current period classifications. Such reclassifications had no effect on net income and stockholders’ equity. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 9 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | Note 2 — Accumulated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss by component net of tax for the three and nine month periods ended June 30 , 2015 and 2014: Unrealized Losses Unrealized Losses on Available for Sale on Available for Sale Securities Securities Balance as of March 31, 2015 $ Balance as of September 30, 2014 $ Other comprehensive loss before reclassification Other comprehensive income before reclassification Amount reclassified from accumulated Amount reclassified from accumulated other comprehensive loss - other comprehensive loss - Total other comprehensive loss Total other comprehensive income Balance as of June 30, 2015 $ Balance as of June 30, 2015 $ Unrealized Losses Unrealized Losses on Available for Sale on Available for Sale Securities Securities Balance as of March 31, 2014 $ (237,865) Balance as of September 30, 2013 $ (361,394) Other comprehensive income before reclassification Other comprehensive income before reclassification Amount reclassified from accumulated Amount reclassified from accumulated other comprehensive loss - other comprehensive loss - Total other comprehensive income Total other comprehensive income Balance as of June 30, 2014 $ (145,281) Balance as of June 30, 2014 $ (145,281) |
Investment Securities
Investment Securities | 9 Months Ended |
Jun. 30, 2015 | |
Investment Securities [Abstract] | |
Investment Securities | Note 3 — Investment Securities Investment securities available for sale consis ted of the following at June 30, 2015 and September 30, 2014: June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities - $ $ $ $ September 30, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities $ $ $ $ U.S. government agency securities with carrying values of $5,248,022 and $5,070,700 at June 30 , 201 5 and September 30, 2014, respectively, were pledged to secure public deposits held by the Company at those dates. There were no sales of available for sale investment securities during the nine months ended June 30, 2015 or 2014. The amortized cost and fair value of securities available for sale at June 30 , 2015 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers might have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2015 Amortized Fair Cost Value Due in one year or less $ $ Due after one year through five years Due after ten years $ $ Investment securities held to maturity consisted of the following at June 30, 2015 and September 30, 2014: June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities - Total $ $ $ $ September 30, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities - Total $ $ $ $ U.S. government agency securities with carrying values of $750,000 at June 30 , 2015 and September 30, 2014, respectively, were pledged to secure publ ic deposits held by the Company at those dates. The amortized cost and fair value of securities held to maturity at June 30 , 2015 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers might have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2015 Amortized Fair Cost Value Due after five years through ten years $ $ Due after ten years Total $ $ Temporarily impaired investments consisted of the following at June 30 , 2015 and September 30, 2014: June 30, 2015 Less than 12 Months More than 12 Months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of states and political subdivisions $ $ $ $ $ $ U.S. government agency securities $ $ $ $ $ $ September 30, 2014 Less than 12 Months More than 12 Months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of states and political subdivisions $ $ $ $ $ $ U.S. government agency securities $ $ $ $ $ $ The Company reviews its unrealized loss amount quarterly. At June 30 , 2015, the declines outlined in the above table represent temporary declines. The Company does not intend to sell , and does not believe it will be required to sell these securities before recovery of their cost basis, which may be at maturity. All investments are interest rate sensitive. These investments earn interest at fixed and adjustable rates. The adjustable rate instruments are generally linked to an index, such as the three-month LIBOR rate, plus or minus a variable. The value of these instruments fluctuates with interest rates. The Company had 13 securities in an unrealized loss position at June 30 , 2015. The Com pany has concluded that the unrealized losses disclosed above are temporary and th at interest rate changes or sector credit ratings changes are not expected to result in the non-collection of principal and interest during the period. The Company’s current intention is not to sell any impaired securities and it is more likely than not it will not be required to sell these securities before the recovery of its amortized cost basis. |
Mortgage-Backed Securities
Mortgage-Backed Securities | 9 Months Ended |
Jun. 30, 2015 | |
Mortgage-Backed Securities [Abstract] | |
Mortgage-Backed Securities | Note 4 — Mortgage-Backed Securities The amortized cost and fair values of mortgage-backed securities, all of which are government-sponsored entities secured by residential real estate and are available for sale, are summarized as follows: June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Freddie Mac Certificates $ $ $ - $ Fannie Mae Certificates - $ $ $ - $ September 30, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Freddie Mac Certificates $ $ $ - $ Fannie Mae Certificates - $ $ $ - $ There were no sales of mortgage-backed securities during the three and nine months ended June 30 , 2015 and 2014 and there were no temporarily impaired mortgage-backed securities at June 30 , 2015 or September 30, 2014. In addition, the Company had no securities in an unrealized loss position at June 30 , 2015 or September 30, 2014. The amortized cost and fair values of mortgage-backed securities at June 30 , 2015 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers have the right to repay obligations without penalty. June 30, 2015 Amortized Fair Cost Value Due after one year through five years $ $ Due after five years through ten years Due after ten years $ $ |
Loans
Loans | 9 Months Ended |
Jun. 30, 2015 | |
Loans [Abstract] | |
Loans | Note 5 — Loans Major classifications of loans are as follows at June 30 , 2015 and September 30, 2014: June 30, September 30, 2015 2014 One-to four-family real estate - owner occupied $ $ One-to four-family real estate - non-owner occupied Construction Multi-family real estate Commercial real estate Home equity and second mortgages Secured loans Commercial leases and loans Commercial lines of credit Plus: Unamortized loan premiums Less: Unamortized loan fees and costs, net Allowance for loan losses $ $ Loan Portfolio Composition The loan and lease receivable portfolio is broken down into the following categories: (1) one- to four- family real estate owner occupied and non-owner occupied loans ; (2) construction loans; (3) multi-family real estate loans; (4) commercial real estate loans; (5) home equity and second mortgage loans; (6) secured loans; (7) commercial l eases and l oans; and (8) commercial lines of credit. One- to four-family real estate loans include residential first mortgage loans originated by the Bank in the greater Pittsburgh metropolitan area. We currently originate fully amortizing loans with maturities up to 30 years. These loans have a maximum loan-to-value ratio of 80% , unless they fall into our first-time homebuyer program in our CRA Assessment Area, and then the maximum loan-to-value ratio can extend up to 95% . Due to our stringent underwriting, historical losses, and location of the majority of the portfolio, the Bank’s risk on this segment of the portfolio is considered minimal. Construction loans include dwelling and land loans where funds are being held by the Bank until the construction has been completed. Dwelling construction consists of new construction and upgrades to existing dwellings. The normal construction period is six months. Construction loans on land are originated for developments where the land is being prepared for future home building. On-site inspections are performed as per the draw schedule for all construction loans. The risk associated with the construction loans is considered low as the Bank makes only a small number of these loans at any given time and adheres to the draw schedule to ensure work is being completed in a timely and professional manner. Multi-family real estate loans include five or more unit dwellings. These loans could pose a higher risk to the Bank than the one- to four-family real estate loans and therefore are originated with a term of up to 20 years and a maximum loan-to-value ratio of 75% . Different risk factors are taken into consideration when originating these loans such as whether the property is owner or non-owner occupied, location, the strength of the borrower, rent rolls and total lending relationship with the borrower(s). Commercial real estate loans consist of loans that are originated where a commercial property is being used as collateral. These loans also produce a higher risk to the Bank and have the same maximum terms and loan-to-value ratios as the multi-family loans. The risks associated with these loans are affected by economic conditions, location, strength of the borrower, rent rolls and potential resale value should foreclosure become necessary. Home equity and second mortgages include loans as first or second liens to any applicant who maintains an owner occupied or single family dwelling. These loans also include home equity lines of credit. The maximum loan amount is $100,000 . The first and second lien combined cannot exceed 80% of the appraised value of the property. The risk to the Bank depends on whether we hold the first and/or second lien. We rely heavily on the appraised value to ensure equity is available, as well as the strength of the borrower. These loans are not considered to be more than moderate risk. Secured loans are made to applicants who maintain deposit accounts at the Bank. The Bank will originate these loans up to a term of five years or to maturity date whichever comes first. These loans pose no risk to the Bank as the loan amount will never exceed the collateral that is securing the loan. Unsecured improvement loans consist of loans that have no or very little useful collateral and therefore pose a greater risk to the Bank. These loans generally have a higher interest rate assigned to them and a maximum term of up to five years. Well documented underwriting is in place to ensure that the borrower has the ability to repay the debt. While the Bank does not originate a significant amount of these types of loans, they are considered to be moderate to high risk due to the unsecured nature of the loan. Commercial leases consist of loans that typically are collateralized by either equipment or vehicles. Forms under the Uniform Commercial Code are filed on all collateral to ensure the Bank has the ability to take possession should the loan go into default. The maximum term is up to seven years but typically fall in the three - to five -year range which gives the Bank a quicker repayment of the debt. Based on the collateral alone, the value of which is sometimes difficult to ascertain and can fluctuate as the market and economic climate change, these loans have a higher risk assigned to them. However, our historical loss has been negligible over the last ten years, which is also taken into consideration when the loans are originated and before they are assigned a risk weighting. Commercial lines of credit consist of lines where residential property is used as collateral. These loans are made to individuals as well as companies, and are collateralized by commercial property, equipment or receivables. The loan amount is determined by the borrower’s financial strength as well as the collateral. The lines are based on the collateral and the ability of the borrower(s) to repay the debt. The lines are closely monitored and limits adjusted accordingly based on updated tax returns and/or other changes to the financial wellbeing of the borrower(s). Subsequently, risk is controlled but considered moderate based on the collateral and nature of the loan. Credit Quality The Bank’s risk rating system is made up of five loan grades (1, 2, 3, 4 and 5). A description of the general characteristics of the risk grades follows: Rating 1 – Pass Rating 1 has asset risks ranging from excellent low risk to acceptable. This rating considers a customer’s history of earnings, cash flow, liquidity, leverage, capitalization, consistency of debt service coverage, the nature and extent of customer relationship and other relevant specific business factors such as the stability of the industry or market area, changes to management, litigation or unexpected events that could have an impact on risks. Rating 2 – Special Mention A special mention asset has a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. The special mention classification is a transitory one and is the first classification that requires an action plan to resolve the weaknesses inherent to the credit. These relationships are reviewed at least quarterly. Rating 3 – Substandard Substandard assets are assets that are inadequately protected by the sound worth or paying capacity of the borrower or of the collateral pledged. These assets have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified as substandard. The loans may have a delinquent history or combination of weak collateral, weak guarantor strength or income statement losses. These assets listed may include assets with histories of repossessions or some that are non-performing bankruptcies. These relationships will be reviewed at least quarterly. Rating 4 – Doubtful Doubtful assets have many of the same characteristics of substandard assets with the exception that the Bank has determined that loss is not only possible but is probable and the risk is close to certain that loss will occur. When a loan is assigned to this category the Bank will identify the probable loss and it will receive allocation in the loan loss reserve analysis. These relationships will be reviewed at least quarterly. Rating 5 – Loss Once an asset is identified as a definite loss to the Bank, it will receive the classification of “loss.” There may be some future potential recovery; however it is more practical to write off the loan at the time of classification. Losses will be taken in the period in which they are determined to be uncollectable. Credit quality indicators as of June 30, 2015 were as follows: Pass Special Mention Substandard Doubtful Loss Total One-to four-family real estate non-owner occupied $ $ - $ - $ - $ - $ Construction - - - - Multi-family real estate - - - - Commercial real estate - - - - Commercial leases and loans - - - Commercial lines of credit - - - $ $ - $ $ - $ - $ Credit quality indicators as of September 30, 2014 were as follows: Pass Special Mention Substandard Doubtful Loss Total One-to four-family real estate non-owner occupied $ $ - $ - $ - $ - $ Construction - - - - Multi-family real estate - - - - Commercial real estate - - - - Commercial leases and loans - - - Commercial lines of credit - - $ $ $ $ - $ - $ The following table presents performing and non-performing residential real estate and consumer loans based on payment activity as of June 30 , 2015 and September 30, 2014. Payment activity is reviewed by management on a monthly basis to determine how loans are performing. Loans are considered to be non-performing when they become 90 days past due. June 30, 2015 Nonperforming Performing Loans Loans Total One-to four-family real estate - owner occupied $ - $ $ Home equity and second mortgages - Secured loans - $ - $ $ September 30, 2014 Nonperforming Performing Loans Loans Total One-to four-family real estate - owner occupied $ $ $ Home equity and second mortgages - Secured loans - $ $ $ A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to col lect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors con sidered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, tak ing into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. There was one impaired loans as of June 30 , 2015, with no related allowance. The Company did not recognize any interest income from this loan for the three and nine month period ended June 30 , 2015. There were two impaired loans at September 30, 2014. Impaired Loans Impaired Loans with Specific with No Specific Allowance Allowance Total Impaired Loans Unpaid Average Interest Recorded Related Recorded Recorded Principal Recorded Income Investment Allowance Investment Investment Balance Investment Recognized June 30, 2015 Commercial leases and loans $ - $ - $ $ $ $ $ - Impaired Loans Impaired Loans with Specific with No Specific Allowance Allowance Total Impaired Loans Unpaid Average Interest Recorded Related Recorded Recorded Principal Recorded Income Investment Allowance Investment Investment Balance Investment Recognized September 30, 2014 Commercial leases and loans $ - $ - $ $ $ $ $ Commercial lines of credit - - - $ - $ - $ $ $ $ $ The Bank did not have any TDRs in the three or nine month periods ended June 30, 2015 and 2014. Nor did it have any TDRs within the year ended September 30, 2014. The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of June 30 , 2015 : 30-59 60-89 Greater than Days Days 90 Days Total Nonaccrual Past Due Past Due Past Due Past Due Current Total Loans Loans One-to four-family real estate owner occupied $ $ - $ - $ $ $ $ - One-to four family real estate non-owner occupied - - - Construction - - - - - Multi-family real estate - - - - - Commercial real estate - - - - - Home equity and second mortgages - - - - - Secured loans - - - - - Commercial leases and loans - - Commercial lines of credit - - - - - $ $ - $ $ $ $ $ The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2014 : 30-59 60-89 Greater than Days Days 90 Days Total Nonaccrual Past Due Past Due Past Due Past Due Current Total Loans Loans One-to four-family real estate owner occupied $ $ - $ $ $ $ $ One-to four family real estate - non-owner occupied - - - - - Construction - - - - - Multi-family real estate - - - - - Commercial real estate - - - - - Home equity and second mortgages - - - - - Secured loans - - - - - Commercial leases and loans - - Commercial lines of credit - - $ $ - $ $ $ $ $ Eureka Bank primarily grants loans to customers throughout Southwestern Pennsylvania. Eureka Bank maintains a diversified loan portfolio and the ability of its debtors to honor their obligations is not substantially dependent on any particular economic business sector. Loans on non-accrual at June 30, 2015 and September 30, 2014 were approximately $302,000 and $848,000 , respectively. The foregone interest on non-accrual loans was $649 and $12,593 for the three months ended June 30, 2015 and 2014 and $24,262 and $26,654 for the nine months ended June 30, 2015 and 2014, respectively. As of June 30, 2015 and September 30, 2014, there were no loans that were 90 days or more delinquent and still accruing interest. The following tables detail the allowance for loan losses and loan receivable balances at June 30 , 2015 and September 30, 2014. An allocation of the allowance to one category of loans does not prevent the Company’s ability to utilize the allowance to absorb losses in a different category. The loans receivable are disaggregated on the basis of the Company’s impairment methodology. One-to four-family real estate -owner occupied One-to four-family real estate - non-owner occupied Construction Multi-family real estate Commercial real estate Home equity and second mortgages Secured loans Commercial leases and loans Commercial lines of credit Non-allocated Total Allowance for credit losses: Beginning balance 4/1/2015 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/15 $ $ $ $ $ $ $ - $ $ $ $ Beginning balance 10/1/2014 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/15 $ $ $ $ $ $ $ - $ $ $ $ Beginning balance 4/1/2014 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/14 $ $ $ $ $ $ $ - $ $ $ $ Beginning balance 10/1/2013 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/14 $ $ $ $ $ $ $ - $ $ $ $ Allowance for credit losses: Ending balance 6/30/2015 $ $ $ $ $ $ $ - $ $ $ $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ - $ $ $ $ Loans receivables: Ending balance 6/30/2015 $ $ $ $ $ $ $ $ $ $ - $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ $ - $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ $ $ $ - $ Allowance for credit losses: Ending balance 9/30/2014 $ $ $ $ $ $ $ - $ $ $ $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ - $ $ $ $ Loans receivables: Ending balance 9/30/2014 $ $ $ $ $ $ $ $ $ $ - $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ $ $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ $ $ $ - $ |
Commitments
Commitments | 9 Months Ended |
Jun. 30, 2015 | |
Commitments [Abstract] | |
Commitments | Note 6 — Commitments The Company’s maximum exposure to credit loss for loan and lease commitments (unfunded loans and leases) at June 30 , 2015 and September 30, 2014 was approximately $11,643,000 and $12,283,000 , respectively, with interest rates from 1.75% to 6.75% . Fixed rate loan commitments at June 30 , 2015 and September 30, 2014 were approximately $4,226,000 and $5,660,000 , respectively, with fixed rates of interest ranging from 1.75% to 6.75% and 3.00% to 6.75% , respectively. In the normal course of business, there are various outstanding commitments and contingent liabilities, such as commitments to extend credit which are not reflected in the accompanying consolidated financial statements. These commitments involve, to varying degrees, elements of credit risk in excess of amounts recognized in the consolidated balance sheets. Loan commitments are made to accommodate the financial needs of the Company’s customers. These arrangements have credit risk essentially the same as that involved in extending loans to customers and are subject to the Company’s normal credit policies and loan underwriting standards. Collateral is obtained based on management’s credit assessment of the customer. Management currently expects no loss from these activities. |
Fair Value Measurements And Fai
Fair Value Measurements And Fair Values Of Financial Instruments | 9 Months Ended |
Jun. 30, 2015 | |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Fair Value Measurements And Fair Values Of Financial Instruments | Note 7 — Fair Value Measurements and Fair Values of Financial Instruments Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective year-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each year-end. The Company follows a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). The three levels of the fair value hierarchy as follows: Level I: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level II: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level III: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at June 30, 2015 and September 30, 2014 are as follows: June 30, 2015 Level I Level II Level III Total Description Available for Sale Investments: Mortgage-backed securities $ - $ $ - $ Obligations of states and political subdivisions available for sale - - U.S. government agency securities available for sale - - Total $ - $ $ - $ September 30, 2014 Level I Level II Level III Total Description Available for Sale Investments: Mortgage-backed securities $ - $ $ - $ Obligations of states and political subdivisions available for sale - - U.S. government agency securities available for sale - - Total $ - $ $ - $ The following tables present the financial assets measured at fair value on a nonrecurring basis as of June 30, 2015 and September 30, 2014 by level within the fair value hierarchy. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loan include: quoted market prices for identical assets classified as Level I inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques include inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. June 30, 2015 Level I Level II Level III Total Description Assets measured at fair value on a nonrecurring basis: Impaired loans $ - $ - $ $ Other real estate owned - - $ - $ - $ $ September 30, 2014 Level I Level II Level III Total Description Assets measured at fair value on a nonrecurring basis: Impaired loans $ - $ - $ $ The following tables present additional quantitative information about L evel III assets measured at fair value on a nonrecurring basis as of June 30, 2015 and September 30, 2014 and for which the Bank uses Level III inputs to determine fair value: June 30, 2015 Range Valuation Unobservable (Weighted Fair Value Technique Inputs Average) Impaired Loans $ Discounted Probability of - cash flow default Other real estate owned Fair Value Appraisal 20 % of collateral (1) adjustments (2) ( 20 ) $ September 30, 2014 Range Valuation Unobservable (Weighted Fair Value Technique Inputs Average) Impaired Loans $ Discounted Probability of - cash flow default Fair Value Appraisal 20 % of collateral (1) adjustments (2) ( 20 ) $ (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally includes various Level III inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions that are presented below the following tables were used to estimate fair values of the Company’s financial instruments at June 30, 2015 and September 30, 2014: June 30, 2015 Carrying Total Value Level I Level II Level III Fair Value Financial assets: Cash and cash equivalents $ $ $ - $ - $ Investment securities available for sale - - Investment securities held to maturity - - Mortgage-backed securities available for sale - - FHLB stock - - Cash surrender value of life insurance - - Loans receivable, net - - 139,643,000 Accrued interest receivable - - Financial liabilities: Deposits $ $ $ - $ $ Advances from borrowers for taxes and insurance - - Accrued interest payable - - September 30, 2014 Carrying Total Value Level I Level II Level III Fair Value Financial assets: Cash and cash equivalents $ $ $ - $ - $ Investment securities available for sale - - Investment securities held to maturity - - Mortgage-backed securities available for sale - - FHLB stock - - Cash surrender value of life insurance - - Loans receivable, net - - 134,453,483 Accrued interest receivable - - Financial liabilities: Deposits $ $ $ - $ $ Advances from borrowers for taxes and insurance - - Accrued interest payable - - Cash and Cash Equivalents The carrying amount is a reasonable estimate of fair value. Investment Securities and Mortgage Backed Securities The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. FHLB Stock The carrying value of the FHLB stock is a reasonable estimate of fair value due to restrictions on the securities. Loans Receivable The fair values for one-to four-family residential loans are estimated using discounted cash flow analysis using fields from similar products in the secondary markets. The carrying amount of construction loans approximated its fair value given their short-term nature. The fair values of consumer and commercial loans are estimated using discounted cash flow analysis, using interest rates reported in various government releases and the Company’s own product pricing schedule for loans with terms similar to the Company’s. The fair values of multi-family and nonresidential mortgages are estimated using discounted cash flow analysis, using interest rates based on a national survey of similar loans. Accrued Interest Receivable The carrying amount is a reasonable estimate of fair value. Deposits The fair values disclosed for demand deposits are, by definition, equal to the amount payable on demand at the repricing date (i.e., their carrying amounts). Fair values of certificates of deposits are estimated using a discounted cash flow calculation that applies a comparable FHLB advance rate to the aggregated weighted average maturity on time deposits. Advances from Borrowers for Taxes and Insurance The fair value of advances from borrowers for taxes and insurance is the amount payable on demand at the reporting date. Accrued Interest Payable The carrying amount is a reasonable estimate of fair value. Cash Surrender Value of Life Insurance The carrying amount is a reasonable estimate of fair value. Off-Balance Sheet Commitments The values of off-balance sheet commitments are based on their carrying value, taking into account the remaining terms and conditions of the agreement. |
Capital Requirements
Capital Requirements | 9 Months Ended |
Jun. 30, 2015 | |
Capital Requirements [Abstract] | |
Capital Requirements | Note 8 — Capital Requirements The Bank is subject to regulatory capital adequacy requirements promulgated by federal bank regulatory agen cies. Failure by the Bank to meet minimum capital requirements could result in certain mandatory and discretionary actions by regulators that could have a material adverse effect on our consolidated financial statements. In early July 2013, the Federal Reserve Board and the Office of the Comptroller of the Currency approved revisions to their capital adequacy guidelines and prompt corrective action rules that implement the revised standards of the Basel Committee on Banking Supervision, commonly called Basel III, and address relevant provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. “Basel III” refers to two consultative documents released by the Basel Committee on Banking Supervision in December 2009, the rules text released in December 2010, and loss absorbency rules issued in January 2011, which include significant changes to bank capital, leverage and liquidity requirements. The rules include new risk-based capital and leverage ratios, which became effective January 1, 2015, and revised the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to the Bank are: (i) a new common equity Tier 1 capital ratio of 4.5% ; (ii) a Tier 1 capital ratio of 6% (increased from 4% ); (iii) a total capital ratio of 8% (unchanged from current rules); and (iv) a Tier 1 leverage ratio of 4% for all institutions. In addition, the rules assign a higher risk weight ( 150% ) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The rules also eliminate the inclusion of certain instruments, such as trust preferred securities, from Tier 1 capital. However, instruments issued prior to May 19, 2010 will be grandfathered for institutions with consolidated assets of $15 billion or less. In addition, Tier 2 capital is no longer limited to the amount of Tier 1 capital included in total capital. Mortgage servicing rights, certain deferred tax assets and investments in unconsolidated subsidiaries over designated percentages of common stock will be required to be deducted from capital, subject to a two -year transition period. Finally, Tier 1 capital will include accumulated other comprehensive income (which includes all unrealized gains and losses on available for sale debt and equity securities), subject to a two-year transition period. The rules also establish a “capital conservation buffer” of 2.5% above the new regulatory minimum capital requirements, which must consist entirely of common equity Tier 1 capital and would result in the following minimum ratios: (i) a common equity Tier 1 capital ratio of 7.0% , (ii) a Tier 1 capital ratio of 8.5% , and (iii) a total capital ratio of 10.5% . The new capital conservation buffer requirement will be phased in beginning in January 2016 at 0.625% of risk-weighted assets and would increase by that amount each year until fully implemented in January 2019. An institution would be subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations would establish a maximum percentage of eligible retained income that could be utilized for such actions. Information presented below as of June 30 , 2015 reflects the Basel III capital requirements that became effective January 1, 2015 for the Bank. Under these capital requirements and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accountin g practices. T he Bank’s capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings and other factors. The Bank may not declare or pay a cash dividend if the effect thereof would cause its net worth to be reduced below either the amounts required for the liquidation account established in con nection with the Bank’s “second step” conversion or the regulatory capital requirements imposed by federal and state regulations. The most recent notification from the Office of the Comptroller of the Currency categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized” the Bank must maintain minimum total risk based, core and tangible ratios as set forth in the accompanying table. There are no conditions or events since the notification that management believed has changed the institution’s category. The following table illustrates the Company’s actual regulatory capital levels compared with its regulatory capital requirements at June 30 , 2015. To be well Capitalized under Prompt For Capital Adequacy Corrective Action Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (in thousands) As of June 30, 2015 Common equity Tier I capital to total risk-weighted assets $ > $ >4.50% > $ >6.50% Tier I capital to total risk-weighted assets > >6.00% > >8.00% Total capital to total risk-weighted assets > >8.00% > >10.00% Tier I leverage capital to average assets > >4.00% > >5.00% The following is a reconciliation of the Bank’s equity under accounting principles generally accepted in the United States of America to regulatory capital as of June 30 , 2015 and September 30, 2014: June 30, September 30, 2015 2014 (in thousands) (in thousands) Total equity $ 22,249 $ 21,972 Unrealized loss on securities available-for-sale Tier 1 capital $ 22,354 Allowable allowances for loan and lease losses Total risk-based capital $ 23,661 $ 23,327 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Jun. 30, 2015 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 9 — Recent Accounting Pronouncements In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. The amendments in this Update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this Update should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this Update are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted . This Update did not have a significant impact on the Company’s financial statements. In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction . The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method . This Update did not have a significant impact on the Company’s financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures . The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update did not have a significant impact on the Company’s financial statement. In June 2014, the FASB issued ASU 2014-12, Compensation – Stock Compensation ( Topic 718 ): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period . The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This Update is not expected to have a significant impact on the Company’s financial statements . In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) . The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This Update did not have a significant impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40). The amendments in this Update provide guidance in accounting principles generally accepted in the United States of America about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). This Update clarifies how current U.S. GAAP should be interpreted in subjectively evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. Public business entities are required to implement the new requirements in fiscal years and interim periods within those fiscal years beginning after December 15, 2015. This Update is not expected to have a significant impact on the Company’s financial statements. In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. The amendments in this Update apply to the separate financial statements of an acquired entity and its subsidiaries that are a business or nonprofit activity (either public or nonpublic) upon the occurrence of an event in which an acquirer (an individual or an entity) obtains control of the acquired entity. An acquired entity may elect the option to apply pushdown accounting in the reporting period in which the change-in-control event occurs. If pushdown accounting is not applied in the reporting period in which the change-in-control event occurs, an acquired entity will have the option to elect to apply pushdown accounting in a subsequent reporting period to the acquired entity's most recent change-in-control event. The amendments in this Update are effective on November 18, 2014. After the effective date, an acquired entity can make an election to apply the guidance to future change-in-control events or to its most recent change-in-control event. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2015, the FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items, as part of its initiative to reduce complexity in accounting standards. This Update eliminates from U.S. GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity may also apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. This Update is not expected to have a significant impact on the Company’s financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) . The amendments in this Update affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; (2) eliminate the presumption that a general partner should consolidate a limited partnership; (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related-party relationships; and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments in this Update are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and for interim periods within fiscal years beginning after December 15, 2017. This Update is not expected to have a significant impact on the Company’s financial statements. In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) , as part of its initiative to reduce complexity in accounting standards. To simplify presentation of debt issuance costs, the amendments in this Update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this Update. For public business entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. This Update is not expected to have a significant impact on the Company’s financial statements. In April 2015, the FASB issued ASU 2015-04, Compensation – Retirement Benefits (Topic 715), as part of its initiative to reduce complexity in accounting standards. For an entity with a fiscal year-end that does not coincide with a month-end, the amendments in this Update provide a practical expedient that permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity's fiscal year-end and apply that practical expedient consistently from year to year. The practical expedient should be applied consistently to all plans if an entity has more than one plan. The amendments in this Update are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Earlier application is permitted . This Update is not expected to have a significant impact on the Company’s financial statements. In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) , as part of its initiative to reduce complexity in accounting standards. This guidance will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. The amendments in this Update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. For public business entities, the FASB decided that the amendments will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. For all other entities, the amendments will be effective for annual periods beginning after December 15, 2015, and interim periods in annual periods beginning after December 15, 2016. Early adoption is permitted for all entities. This Update is not expected to have a significant impact on the Company’s financial statements. In April 2015, the FASB issued ASU 2015-06, Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions. Topic 260, Earnings Per Share , contains guidance that addresses master limited partnerships that originated from Emerging Issues Task Force (“EITF”) Issue No. 07-4, Application of the Two-Class Method Under FASB Statement No. 128 to Master Limited Partnerships . Under Topic 260, master limited partnerships apply the two-class method of calculating earnings per unit because the general partner, limited partners, and incentive distribution rights holders each participate differently in the distribution of available cash in accordance with the contractual rights contained in the partnership agreement. The amendments in this Update specify that for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a dropdown transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method are also required. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent) . The Update applies to reporting entities that elect to measure the fair value of an investment using the net asset value per share (or its equivalent) practical expedient. Under the amendments in this Update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. A reporting entity should continue to disclose information on investments for which fair value is measured at net asset value (or its equivalent) as a practical expedient to help users understand the nature and risks of the investments and whether the investments, if sold, are probable of being sold at amounts different from net asset value. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. The retrospective approach requires that an investment for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy in all periods presented in an entity's financial statements. Earlier application is permitted . This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-08 , Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 . This Update was issued to amend various SEC paragraphs pursuant to the issuance of Staff Accounting Bulletin No. 115. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-09, Financial Services – Insurance (Topic 944): Disclosure About Short-Duration Contracts . The amendments apply to all insurance entities that issue short-duration contracts as defined in Topic 944, Financial Services – Insurance . The amendments require insurance entities to disclose for annual reporting periods certain information about the liability for unpaid claims and claim adjustment expenses. The amendments also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses, including reasons for the change and the effects on the financial statements. Additionally, the amendments require insurance entities to disclose for annual and interim reporting periods a rollforward of the liability for unpaid claims and claim adjustment expenses, described in Topic 944. For health insurance claims, the amendments require the disclosure of the total of incurred-but-not-reported liabilities plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. For all other entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within annual periods beginning after December 15, 2017. This Update is not expected to have a significant impact on the Company’s financial statements. In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements . The amendments in this Update represent changes to clarify the FASB Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Transition guidance varies based on the amendments in this Update. The amendments in this Update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this Update. This Update is not expected to have a significant impact on the Company’s financial statements. |
Nature Of Operations And Sign18
Nature Of Operations And Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2015 | |
Nature Of Operations And Significant Accounting Policies [Abstract] | |
Unaudited Interim Financial Statements | Unaudited Interim Financial Statements The accompanying unaudited consolidated financial statements were prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for interim information. The accompanying unaudited consolidated financial statements for the interim periods include all adjustments, consisting of normal recurring accruals, which are necessary, in the opinion of management, to fairly reflect Eureka Financial Corp.’s consolidated financial position and results of operations. Additionally, these consolidated financial statements for the interim periods have been prepared in accordance with the instructions to the SEC’s Form 10-Q and Article 10 of Regulation S-X and therefore do not include all information or footnotes necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). For further information, refer to the audited consolidated financial statements and footnotes thereto for the year ended September 30, 2014, as contained in the Company’s Annual Report on Form 10-K filed with the SEC on December 29, 2014. The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, valuation of deferred tax assets and other-than-temporary impairment of investment securities. The results of operations for the interim quarterly or year to date periods are not necessarily indicative of the results that may be expected for the entire fiscal year or any other period. |
Earnings Per Share | Earnings Per Share Basic earnings per share excludes dilution and is computed by dividing net income by weighted-average shares outstanding. Unallocated shares held by the Bank’s employee stock ownership plan are not deemed outstanding for earnings per share calculations. Diluted earnings per share is computed by dividing net income by weighted-average shares outstanding plus potential common stock resulting from dilutive stock options. Common shares that have been repurchased are not deemed outstanding for earnings per share calculations. The following is a reconciliation of the numerator and denominator of the basic and dilutive earnings per share computations for net income for the three and nine months ended June 30, 2015 and 2014. For the Three Months Ended For the Nine Months Ended June 30, June 30, 2015 2014 2015 2014 Weighted average common shares outstanding Average unearned ESOP shares Average unearned restricted shares Weighted average common shares and common stock equivalents used to calculate basic and diluted earnings per share Additional common stock equivalents (restricted shares) used to calculate diluted earnings per share - Additional common stock equivalents (stock options) used to calculate diluted earnings per share Weighted average common shares and common common stock equivalents used to calculate basic and diluted earnings per share Basic and diluted earnings per share $ $ $ $ Options to purchase 64,907 shares of common stock at a price of $15.24 per share were outstanding at both June 30, 2015 and 2014. All of the options were considered dilutive based on the weighted average market value exceeding the weighted average stock price. Options to purchase 3,818 shares of common stock at a price of $21.52 per share were outstanding at June 30, 2015. No shares were included in the computation of diluted earnings per share because doing so would have been anti-dilutive as the weighted average exercise price was in excess of the weighted average market value. |
Reclassifications | Reclassifications Certain comparative amounts from the prior year period have been reclassified to conform to current period classifications. Such reclassifications had no effect on net income and stockholders’ equity. |
Nature Of Operations And Sign19
Nature Of Operations And Significant Accounting Policies (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Nature Of Operations And Significant Accounting Policies [Abstract] | |
Schedule Of Basic And Diluted Earnings Per Share | For the Three Months Ended For the Nine Months Ended June 30, June 30, 2015 2014 2015 2014 Weighted average common shares outstanding Average unearned ESOP shares Average unearned restricted shares Weighted average common shares and common stock equivalents used to calculate basic and diluted earnings per share Additional common stock equivalents (restricted shares) used to calculate diluted earnings per share - Additional common stock equivalents (stock options) used to calculate diluted earnings per share Weighted average common shares and common common stock equivalents used to calculate basic and diluted earnings per share Basic and diluted earnings per share $ $ $ $ |
Accumulated Other Comprehensi20
Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Changes In Accumulated Other Comprehensive Loss By Component | Unrealized Losses Unrealized Losses on Available for Sale on Available for Sale Securities Securities Balance as of March 31, 2015 $ Balance as of September 30, 2014 $ Other comprehensive loss before reclassification Other comprehensive income before reclassification Amount reclassified from accumulated Amount reclassified from accumulated other comprehensive loss - other comprehensive loss - Total other comprehensive loss Total other comprehensive income Balance as of June 30, 2015 $ Balance as of June 30, 2015 $ Unrealized Losses Unrealized Losses on Available for Sale on Available for Sale Securities Securities Balance as of March 31, 2014 $ (237,865) Balance as of September 30, 2013 $ (361,394) Other comprehensive income before reclassification Other comprehensive income before reclassification Amount reclassified from accumulated Amount reclassified from accumulated other comprehensive loss - other comprehensive loss - Total other comprehensive income Total other comprehensive income Balance as of June 30, 2014 $ (145,281) Balance as of June 30, 2014 $ (145,281) |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Gain (Loss) on Investments [Line Items] | |
Investment Securities Held To Maturity | June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities - Total $ $ $ $ September 30, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities - Total $ $ $ $ |
Schedule Of Temporarily Impaired Investments | June 30, 2015 Less than 12 Months More than 12 Months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of states and political subdivisions $ $ $ $ $ $ U.S. government agency securities $ $ $ $ $ $ September 30, 2014 Less than 12 Months More than 12 Months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of states and political subdivisions $ $ $ $ $ $ U.S. government agency securities $ $ $ $ $ $ |
Available-For-Sale Securities [Member] | |
Gain (Loss) on Investments [Line Items] | |
Investment Securities Available For Sale | June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities - $ $ $ $ September 30, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Obligations of states and political subdivisions $ $ $ $ U.S. government agency securities $ $ $ $ |
Amortized Cost And Fair Value Of Securities By Contractual Maturity | June 30, 2015 Amortized Fair Cost Value Due in one year or less $ $ Due after one year through five years Due after ten years $ $ |
Held-To-Maturity Securities [Member] | |
Gain (Loss) on Investments [Line Items] | |
Amortized Cost And Fair Value Of Securities By Contractual Maturity | June 30, 2015 Amortized Fair Cost Value Due after five years through ten years $ $ Due after ten years Total $ $ |
Mortgage-Backed Securities (Tab
Mortgage-Backed Securities (Tables) - Mortgage-Backed Securities [Member] | 9 Months Ended |
Jun. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |
Mortgage-Backed Securities Available For Sale | June 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Freddie Mac Certificates $ $ $ - $ Fannie Mae Certificates - $ $ $ - $ September 30, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Freddie Mac Certificates $ $ $ - $ Fannie Mae Certificates - $ $ $ - $ |
Amortized Cost And Fair Values Of Mortgage-Backed Securities By Contractual Maturity | June 30, 2015 Amortized Fair Cost Value Due after one year through five years $ $ Due after five years through ten years Due after ten years $ $ |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Loans [Abstract] | |
Summary Of Major Classifications Of Loans | June 30, September 30, 2015 2014 One-to four-family real estate - owner occupied $ $ One-to four-family real estate - non-owner occupied Construction Multi-family real estate Commercial real estate Home equity and second mortgages Secured loans Commercial leases and loans Commercial lines of credit Plus: Unamortized loan premiums Less: Unamortized loan fees and costs, net Allowance for loan losses $ $ |
Summary Of Credit Quality Indicators | Pass Special Mention Substandard Doubtful Loss Total One-to four-family real estate non-owner occupied $ $ - $ - $ - $ - $ Construction - - - - Multi-family real estate - - - - Commercial real estate - - - - Commercial leases and loans - - - Commercial lines of credit - - - $ $ - $ $ - $ - $ Credit quality indicators as of September 30, 2014 were as follows: Pass Special Mention Substandard Doubtful Loss Total One-to four-family real estate non-owner occupied $ $ - $ - $ - $ - $ Construction - - - - Multi-family real estate - - - - Commercial real estate - - - - Commercial leases and loans - - - Commercial lines of credit - - $ $ $ $ - $ - $ |
Summary Of Performing And Non-Performing Loans | June 30, 2015 Nonperforming Performing Loans Loans Total One-to four-family real estate - owner occupied $ - $ $ Home equity and second mortgages - Secured loans - $ - $ $ September 30, 2014 Nonperforming Performing Loans Loans Total One-to four-family real estate - owner occupied $ $ $ Home equity and second mortgages - Secured loans - $ $ $ |
Schedule Of Impaired Loans | Impaired Loans Impaired Loans with Specific with No Specific Allowance Allowance Total Impaired Loans Unpaid Average Interest Recorded Related Recorded Recorded Principal Recorded Income Investment Allowance Investment Investment Balance Investment Recognized June 30, 2015 Commercial leases and loans $ - $ - $ $ $ $ $ - Impaired Loans Impaired Loans with Specific with No Specific Allowance Allowance Total Impaired Loans Unpaid Average Interest Recorded Related Recorded Recorded Principal Recorded Income Investment Allowance Investment Investment Balance Investment Recognized September 30, 2014 Commercial leases and loans $ - $ - $ $ $ $ $ Commercial lines of credit - - - $ - $ - $ $ $ $ $ |
Summary Of Classes Of Loan Portfolio Past Due | 30-59 60-89 Greater than Days Days 90 Days Total Nonaccrual Past Due Past Due Past Due Past Due Current Total Loans Loans One-to four-family real estate owner occupied $ $ - $ - $ $ $ $ - One-to four family real estate non-owner occupied - - - Construction - - - - - Multi-family real estate - - - - - Commercial real estate - - - - - Home equity and second mortgages - - - - - Secured loans - - - - - Commercial leases and loans - - Commercial lines of credit - - - - - $ $ - $ $ $ $ $ The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2014 : 30-59 60-89 Greater than Days Days 90 Days Total Nonaccrual Past Due Past Due Past Due Past Due Current Total Loans Loans One-to four-family real estate owner occupied $ $ - $ $ $ $ $ One-to four family real estate - non-owner occupied - - - - - Construction - - - - - Multi-family real estate - - - - - Commercial real estate - - - - - Home equity and second mortgages - - - - - Secured loans - - - - - Commercial leases and loans - - Commercial lines of credit - - $ $ - $ $ $ $ $ |
Summary Of Allowance For Loan Losses And Loan Receivable Balances | One-to four-family real estate -owner occupied One-to four-family real estate - non-owner occupied Construction Multi-family real estate Commercial real estate Home equity and second mortgages Secured loans Commercial leases and loans Commercial lines of credit Non-allocated Total Allowance for credit losses: Beginning balance 4/1/2015 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/15 $ $ $ $ $ $ $ - $ $ $ $ Beginning balance 10/1/2014 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/15 $ $ $ $ $ $ $ - $ $ $ $ Beginning balance 4/1/2014 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/14 $ $ $ $ $ $ $ - $ $ $ $ Beginning balance 10/1/2013 $ $ $ $ $ $ $ - $ $ $ $ Charge-offs - - - - - - - - - - - Recoveries - - - - - - - - - - - Provisions (credits) - Ending balance 6/30/14 $ $ $ $ $ $ $ - $ $ $ $ Allowance for credit losses: Ending balance 6/30/2015 $ $ $ $ $ $ $ - $ $ $ $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ - $ $ $ $ Loans receivables: Ending balance 6/30/2015 $ $ $ $ $ $ $ $ $ $ - $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ $ - $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ $ $ $ - $ Allowance for credit losses: Ending balance 9/30/2014 $ $ $ $ $ $ $ - $ $ $ $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ - $ $ $ $ Loans receivables: Ending balance 9/30/2014 $ $ $ $ $ $ $ $ $ $ - $ Ending balance: individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ $ $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ $ $ $ - $ |
Fair Value Measurements And F24
Fair Value Measurements And Fair Values Of Financial Instruments (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Schedule Of Financial Assets Measured At Fair Value On A Recurring Basis | June 30, 2015 Level I Level II Level III Total Description Available for Sale Investments: Mortgage-backed securities $ - $ $ - $ Obligations of states and political subdivisions available for sale - - U.S. government agency securities available for sale - - Total $ - $ $ - $ September 30, 2014 Level I Level II Level III Total Description Available for Sale Investments: Mortgage-backed securities $ - $ $ - $ Obligations of states and political subdivisions available for sale - - U.S. government agency securities available for sale - - Total $ - $ $ - $ |
Schedule Of Financial Assets Measured At Fair Value On A Nonrecurring Basis | June 30, 2015 Level I Level II Level III Total Description Assets measured at fair value on a nonrecurring basis: Impaired loans $ - $ - $ $ Other real estate owned - - $ - $ - $ $ September 30, 2014 Level I Level II Level III Total Description Assets measured at fair value on a nonrecurring basis: Impaired loans $ - $ - $ $ |
Schedule Of Additional Quantitative Information About Level 3 | June 30, 2015 Range Valuation Unobservable (Weighted Fair Value Technique Inputs Average) Impaired Loans $ Discounted Probability of - cash flow default Other real estate owned Fair Value Appraisal 20 % of collateral (1) adjustments (2) ( 20 ) $ September 30, 2014 Range Valuation Unobservable (Weighted Fair Value Technique Inputs Average) Impaired Loans $ Discounted Probability of - cash flow default Fair Value Appraisal 20 % of collateral (1) adjustments (2) ( 20 ) $ (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally includes various Level III inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Schedule Of Estimated Fair Values Of Financial Instruments | June 30, 2015 Carrying Total Value Level I Level II Level III Fair Value Financial assets: Cash and cash equivalents $ $ $ - $ - $ Investment securities available for sale - - Investment securities held to maturity - - Mortgage-backed securities available for sale - - FHLB stock - - Cash surrender value of life insurance - - Loans receivable, net - - 139,643,000 Accrued interest receivable - - Financial liabilities: Deposits $ $ $ - $ $ Advances from borrowers for taxes and insurance - - Accrued interest payable - - September 30, 2014 Carrying Total Value Level I Level II Level III Fair Value Financial assets: Cash and cash equivalents $ $ $ - $ - $ Investment securities available for sale - - Investment securities held to maturity - - Mortgage-backed securities available for sale - - FHLB stock - - Cash surrender value of life insurance - - Loans receivable, net - - 134,453,483 Accrued interest receivable - - Financial liabilities: Deposits $ $ $ - $ $ Advances from borrowers for taxes and insurance - - Accrued interest payable - - |
Capital Requirements (Tables)
Capital Requirements (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Capital Requirements [Abstract] | |
Company's Actual Regulatory Capital Levels Compared With Regulatory Capital Requirements | To be well Capitalized under Prompt For Capital Adequacy Corrective Action Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (in thousands) As of June 30, 2015 Common equity Tier I capital to total risk-weighted assets $ > $ >4.50% > $ >6.50% Tier I capital to total risk-weighted assets > >6.00% > >8.00% Total capital to total risk-weighted assets > >8.00% > >10.00% Tier I leverage capital to average assets > >4.00% > >5.00% |
Bank's Equity Under Accounting Principles To Regulatory Capital | June 30, September 30, 2015 2014 (in thousands) (in thousands) Total equity $ 22,249 $ 21,972 Unrealized loss on securities available-for-sale Tier 1 capital $ 22,354 Allowable allowances for loan and lease losses Total risk-based capital $ 23,661 $ 23,327 |
Nature Of Operations And Sign26
Nature Of Operations And Significant Accounting Policies (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Nature Of Operations And Significant Accounting Policies [Abstract] | ||||
Weighted average common shares | 1,207,426 | 1,247,236 | 1,210,664 | 1,251,337 |
Average unearned ESOP shares | (34,126) | (40,236) | (35,658) | (41,768) |
Average unearned restricted shares | (12,305) | (15,437) | (11,631) | (16,741) |
Weighted average common shares and stock equivalents used to calculate basic and diluted earnings per share | 1,160,995 | 1,191,563 | 1,163,375 | 1,192,828 |
Additional common stock equivalents (restricted shares) used to calculate diluted earnings per share | 1,564 | 938 | 312 | |
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 3,390 | 2,425 | 1,463 | 1,797 |
Weighted average common shares and common stock equivalents used to calculate basic and diluted earnings per share | 1,165,949 | 1,194,926 | 1,165,150 | 1,194,625 |
Basic and diluted earnings per share | $ 0.34 | $ 0.34 | $ 0.98 | $ 0.93 |
Number of shares considered dilutive | 64,907 | 64,907 | ||
Price per share of shares considered dilutive | $ 15.24 | $ 15.24 | ||
Number of shares considered antidilutive | 3,818 | |||
Price per share of shares considered antidilutive | $ 21.52 |
Accumulated Other Comprehensi27
Accumulated Other Comprehensive Loss (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Beginning balance | $ (121,279) | |||
Ending balance | $ (105,354) | (105,354) | ||
Unrealized Losses On Available For Sale Securities [Member] | ||||
Beginning balance | (27,786) | $ (237,865) | (121,279) | $ (361,394) |
Other comprehensive income before reclassification | $ (77,568) | $ 92,584 | $ 15,925 | $ 216,113 |
Amount reclassified from accumulated other comprehensive loss | ||||
Total other comprehensive income | $ (77,568) | $ 92,584 | $ 15,925 | $ 216,113 |
Ending balance | $ (105,354) | $ (145,281) | $ (105,354) | $ (145,281) |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) | 9 Months Ended | ||
Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Sep. 30, 2014USD ($) | |
Available-For-Sale Securities [Member] | |||
Gain (Loss) on Investments [Line Items] | |||
Pledged government agency securities | $ 5,248,022 | $ 5,070,700 | |
Sales of available for sale investment securities | 0 | $ 0 | |
Held-To-Maturity Securities [Member] | |||
Gain (Loss) on Investments [Line Items] | |||
Pledged government agency securities | $ 750,000 | $ 750,000 | |
Number of securities in unrealized loss position | security | 13 |
Investment Securities (Investme
Investment Securities (Investment Securities Available For Sale) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 6,588,626 | $ 8,587,838 |
Gross Unrealized Gains | 296 | 1,510 |
Gross Unrealized Losses | (160,222) | (185,783) |
Fair Value | 6,428,700 | 8,403,565 |
Obligations Of States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 590,604 | 591,350 |
Gross Unrealized Gains | 296 | 535 |
Gross Unrealized Losses | (4,425) | (4,770) |
Fair Value | 586,475 | 587,115 |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,998,022 | 7,996,488 |
Gross Unrealized Gains | 975 | |
Gross Unrealized Losses | (155,797) | (181,013) |
Fair Value | $ 5,842,225 | $ 7,816,450 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Fair Value Of Available For Sale Securities By Contractual Maturity) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | $ 6,428,700 | $ 8,403,565 |
Amortized Cost [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due in one year or less, Amortized Cost | 145,160 | |
Due after one year through five years, Amortized Cost | 145,444 | |
Due after ten years, Amortized Cost | 6,298,022 | |
Amortized Cost | 6,588,626 | |
Fair Value [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due in one year or less, Fair Value | 145,145 | |
Due after one year through five years, Fair Value | 145,740 | |
Due after ten years, Fair Value | 6,137,815 | |
Fair Value | $ 6,428,700 |
Investment Securities (Invest31
Investment Securities (Investment Securities Held To Maturity) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 2,768,553 | $ 2,772,470 |
Gross Unrealized Gains | 61,857 | 58,846 |
Gross Unrealized Losses | (80,674) | (90,376) |
Fair Value | 2,749,736 | 2,740,940 |
Obligations Of States And Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 2,018,553 | 2,022,470 |
Gross Unrealized Gains | 61,857 | 58,846 |
Gross Unrealized Losses | (28,174) | (24,752) |
Fair Value | 2,052,236 | 2,056,564 |
U.S. Government Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 750,000 | 750,000 |
Gross Unrealized Losses | (52,500) | (65,624) |
Fair Value | $ 697,500 | $ 684,376 |
Investment Securities (Amorti32
Investment Securities (Amortized Cost And Fair Value Of Held To Maturity Securities By Contractual Maturity) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Investment Securities [Abstract] | ||
Due after five years through ten years, Amortized Cost | $ 483,448 | |
Due after ten years, Amortized Cost | 2,285,105 | |
Amortized Cost | 2,768,553 | $ 2,772,470 |
Due after five years through ten years, Fair Value | 530,736 | |
Due after ten years, Fair Value | 2,219,000 | |
Fair Value | $ 2,749,736 | $ 2,740,940 |
Investment Securities (Schedule
Investment Securities (Schedule Of Temporarily Impaired Investments) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 Months | $ 4,954,585 | $ 2,787,605 |
Fair Value, More than 12 Months | 2,198,072 | 5,331,975 |
Fair Value | 7,152,657 | 8,119,580 |
Gross Unrealized Losses, Less than 12 Months | (139,916) | (9,285) |
Gross Unrealized Losses, More than 12 Months | (100,980) | (266,875) |
Gross Unrealized Losses | (240,896) | (276,160) |
Obligations Of States And Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 Months | 440,735 | 297,030 |
Fair Value, More than 12 Months | 272,700 | 572,700 |
Fair Value | 713,435 | 869,730 |
Gross Unrealized Losses, Less than 12 Months | (4,425) | (1,310) |
Gross Unrealized Losses, More than 12 Months | (28,174) | (28,212) |
Gross Unrealized Losses | (32,599) | (29,522) |
U.S. Government Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 Months | 4,513,850 | 2,490,575 |
Fair Value, More than 12 Months | 1,925,372 | 4,759,275 |
Fair Value | 6,439,222 | 7,249,850 |
Gross Unrealized Losses, Less than 12 Months | (135,491) | (7,975) |
Gross Unrealized Losses, More than 12 Months | (72,806) | (238,663) |
Gross Unrealized Losses | $ (208,297) | $ (246,638) |
Mortgage-Backed Securities (Nar
Mortgage-Backed Securities (Narrative) (Details) - Mortgage-Backed Securities [Member] | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Sep. 30, 2014security | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Sales of mortgage-backed securities | $ | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of temporarily impaired mortgage-backed securities | 0 | 0 | 0 | ||
Number of securities in an unrealized loss position | 0 | 0 | 0 |
Mortgage-Backed Securities (Mor
Mortgage-Backed Securities (Mortgage-Backed Securities Available For Sale) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 6,588,626 | $ 8,587,838 |
Gross Unrealized Gains | 296 | 1,510 |
Gross Unrealized Losses | (160,222) | (185,783) |
Fair Value | 6,428,700 | 8,403,565 |
Freddie Mac Certificates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 624 | 822 |
Gross Unrealized Gains | $ 44 | $ 60 |
Gross Unrealized Losses | ||
Fair Value | $ 668 | $ 882 |
Fannie Mae Certificates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,482 | 4,246 |
Gross Unrealized Gains | $ 224 | $ 457 |
Gross Unrealized Losses | ||
Fair Value | $ 2,706 | $ 4,703 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,106 | 5,068 |
Gross Unrealized Gains | $ 268 | $ 517 |
Gross Unrealized Losses | ||
Fair Value | $ 3,374 | $ 5,585 |
Mortgage-Backed Securities (Amo
Mortgage-Backed Securities (Amortized Cost And Fair Values Of Mortgage-Backed Securities By Contractual Maturity) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 6,588,626 | $ 8,587,838 |
Fair Value | 6,428,700 | 8,403,565 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one year through five years, Amortized Cost | 1,753 | |
Due after five years through ten years, Amortized Cost | 418 | |
Due after ten years, Amortized Cost | 935 | |
Amortized Cost | 3,106 | 5,068 |
Due after one year through five years, Fair Value | 1,885 | |
Due after five years through ten years, Fair Value | 453 | |
Due after ten years, Fair Value | 1,036 | |
Fair Value | $ 3,374 | $ 5,585 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jun. 30, 2015USD ($)contractloan | Jun. 30, 2014USD ($)contract | Jun. 30, 2015USD ($)contractloan | Jun. 30, 2014USD ($)contract | Sep. 30, 2014USD ($)contractloan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Normal construction period | 6 months | ||||
Units of dwelling | 5 years | ||||
Maximum term to originate loans | 5 years | ||||
Number of impaired loans | loan | 1 | 1 | 2 | ||
Related allowance | |||||
Interest income | $ 1,503,460 | $ 1,499,099 | $ 4,564,352 | $ 4,406,907 | |
Number of TDRs | contract | 0 | 0 | 0 | 0 | 0 |
Loans on non accrual status | $ 302,000 | $ 302,000 | $ 848,000 | ||
Foregone interest on non-accrual loans | 649 | $ 12,593 | 24,262 | $ 26,654 | |
90 days or more delinquent loans and still accruing | 0 | 0 | $ 0 | ||
Eureka Financial Corporation [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Interest income | $ 0 | $ 0 | |||
One-To Four-Family Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 30 years | ||||
Loan to value ratio | 80.00% | ||||
Maximum loan to value ratio in first time homebuyer program | 95.00% | ||||
Multi-Family Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 20 years | ||||
Loan to value ratio | 75.00% | ||||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 20 years | ||||
Loan to value ratio | 75.00% | ||||
Home Equity And Second Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum Loan Amount | $ 100,000 | ||||
First and second lien maximum as percentage of appraised value of property | 80.00% | ||||
Unsecured Improvement Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 5 years | ||||
Commercial Leases And Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 5 years | ||||
Historical period for which loan losses have been negligible | 10 years | ||||
Related allowance | |||||
Commercial Lines Of Credit [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Related allowance | |||||
Maximum [Member] | Commercial Leases And Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 7 years | ||||
Minimum [Member] | Commercial Leases And Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maximum maturity period of loans | 3 years |
Loans (Summary Of Major Classif
Loans (Summary Of Major Classifications Of Loans) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | $ 134,937,485 | $ 129,700,595 |
Plus: Unamortized loan premiums | 11,004 | 12,176 |
Less: Unamortized loan fees and costs, net | (387,640) | (321,250) |
Less: Allowance for loan losses | (1,431,038) | (1,361,038) |
Loans total, net | 133,129,811 | 128,030,483 |
One-To-Four Family Real Estate - Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 21,899,590 | 21,556,222 |
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 41,002,714 | 39,185,939 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 4,730,363 | 2,562,823 |
Multi-Family Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 17,807,636 | 18,699,192 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 24,710,039 | 21,635,758 |
Home Equity And Second Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 2,029,022 | 1,880,546 |
Secured Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 150,250 | 158,512 |
Commercial Leases And Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | 18,351,128 | 19,231,496 |
Commercial Lines Of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, total | $ 4,256,743 | $ 4,790,107 |
Loans (Summary Of Credit Qualit
Loans (Summary Of Credit Quality Indicators) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 110,858,623 | $ 106,105,315 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 110,394,433 | 105,101,396 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 192,139 | |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 464,190 | $ 811,780 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 41,002,714 | $ 39,185,939 |
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 41,002,714 | $ 39,185,939 |
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 4,730,363 | $ 2,562,823 |
Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 4,730,363 | $ 2,562,823 |
Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Construction [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Multi-Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 17,807,636 | $ 18,699,192 |
Multi-Family Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 17,807,636 | $ 18,699,192 |
Multi-Family Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Multi-Family Real Estate [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 24,710,039 | $ 21,635,758 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 24,710,039 | $ 21,635,758 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Commercial Real Estate [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Commercial Leases And Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 18,351,128 | $ 19,231,496 |
Commercial Leases And Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 18,049,400 | 18,843,633 |
Commercial Leases And Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 301,728 | $ 387,863 |
Commercial Leases And Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Commercial Leases And Loans [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Commercial Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 4,256,743 | $ 4,790,107 |
Commercial Lines Of Credit [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 4,094,281 | 4,174,051 |
Commercial Lines Of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 192,139 | |
Commercial Lines Of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 162,462 | $ 423,917 |
Commercial Lines Of Credit [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | ||
Commercial Lines Of Credit [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net |
Loans (Summary Of Performing An
Loans (Summary Of Performing And Non-Performing Loans) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 110,858,623 | $ 106,105,315 |
Nonperforming Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 36,263 | |
Performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 24,078,862 | 23,559,017 |
Total Performing and Non-performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 24,078,862 | 23,595,280 |
One-To Four-Family Real Estate [Member] | Nonperforming Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 36,263 | |
One-To Four-Family Real Estate [Member] | Performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 21,519,959 | |
One-To Four-Family Real Estate [Member] | Total Performing and Non-performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 21,556,222 | |
One-To-Four Family Real Estate - Owner Occupied [Member] | Performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 21,899,590 | |
One-To-Four Family Real Estate - Owner Occupied [Member] | Total Performing and Non-performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 21,899,590 | |
Home Equity And Second Mortgages [Member] | Performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 2,029,022 | 1,880,546 |
Home Equity And Second Mortgages [Member] | Total Performing and Non-performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 2,029,022 | 1,880,546 |
Secured Loans [Member] | Performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 150,250 | 158,512 |
Secured Loans [Member] | Total Performing and Non-performing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 150,250 | $ 158,512 |
Loans (Schedule Of Impaired Loa
Loans (Schedule Of Impaired Loans) (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, With Specific Allowance | ||
Related Allowance | ||
Recorded Investment, With No Specific Allowance | $ 811,780 | |
Recorded Investment | 811,780 | |
Unpaid Principal Balance | 811,780 | |
Average Recorded Investment | 839,096 | |
Interest Income Recognized | $ 15,175 | |
Commercial Leases And Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, With Specific Allowance | ||
Related Allowance | ||
Recorded Investment, With No Specific Allowance | $ 301,728 | $ 387,863 |
Recorded Investment | 301,728 | 387,863 |
Unpaid Principal Balance | 301,728 | 387,863 |
Average Recorded Investment | $ 344,795 | 415,179 |
Interest Income Recognized | $ 15,175 | |
Commercial Lines Of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, With Specific Allowance | ||
Related Allowance | ||
Recorded Investment, With No Specific Allowance | $ 423,917 | |
Recorded Investment | 423,917 | |
Unpaid Principal Balance | 423,917 | |
Average Recorded Investment | $ 423,917 |
Loans (Summary Of Classes Of Lo
Loans (Summary Of Classes Of Loan Portfolio Past Due) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | $ 228,812 | $ 256,707 |
60-89 Days Past Due | ||
Greater than 90 Days | $ 301,728 | $ 848,043 |
Total Past Due | 530,540 | 1,104,750 |
Current | 134,406,945 | 128,595,845 |
Loans and Leases Receivable, Gross Total | 134,937,485 | 129,700,595 |
Non-accrual Loans | 301,728 | 848,043 |
One-To-Four Family Real Estate - Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | $ 87,612 | $ 256,707 |
60-89 Days Past Due | ||
Greater than 90 Days | $ 36,263 | |
Total Past Due | $ 87,612 | 292,970 |
Current | 21,811,978 | 21,263,252 |
Loans and Leases Receivable, Gross Total | 21,899,590 | 21,556,222 |
Non-accrual Loans | $ 36,263 | |
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | $ 141,200 | |
60-89 Days Past Due | ||
Total Past Due | $ 141,200 | |
Current | 40,861,514 | $ 39,185,939 |
Loans and Leases Receivable, Gross Total | $ 41,002,714 | $ 39,185,939 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Current | $ 4,730,363 | $ 2,562,823 |
Loans and Leases Receivable, Gross Total | $ 4,730,363 | $ 2,562,823 |
Multi-Family Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Current | $ 17,807,636 | $ 18,699,192 |
Loans and Leases Receivable, Gross Total | $ 17,807,636 | $ 18,699,192 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Current | $ 24,710,039 | $ 21,635,758 |
Loans and Leases Receivable, Gross Total | $ 24,710,039 | $ 21,635,758 |
Home Equity And Second Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Current | $ 2,029,022 | $ 1,880,546 |
Loans and Leases Receivable, Gross Total | $ 2,029,022 | $ 1,880,546 |
Secured Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Current | $ 150,250 | $ 158,512 |
Loans and Leases Receivable, Gross Total | $ 150,250 | $ 158,512 |
Commercial Leases And Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Greater than 90 Days | $ 301,728 | $ 387,863 |
Total Past Due | 301,728 | 387,863 |
Current | 18,049,400 | 18,843,633 |
Loans and Leases Receivable, Gross Total | 18,351,128 | 19,231,496 |
Non-accrual Loans | $ 301,728 | $ 387,863 |
Commercial Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
60-89 Days Past Due | ||
Greater than 90 Days | $ 423,917 | |
Total Past Due | 423,917 | |
Current | $ 4,256,743 | 4,366,190 |
Loans and Leases Receivable, Gross Total | $ 4,256,743 | 4,790,107 |
Non-accrual Loans | $ 423,917 |
Loans (Summary Of Allowance For
Loans (Summary Of Allowance For Loan Losses And Loan Receivable Balances) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 1,421,038 | $ 1,324,038 | $ 1,361,038 | $ 1,299,038 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ 10,000 | $ 25,000 | $ 70,000 | $ 50,000 | |
Allowance for credit losses: Ending balance | $ 1,431,038 | 1,349,038 | $ 1,431,038 | 1,349,038 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 1,431,038 | $ 1,431,038 | $ 1,361,038 | ||
Loans receivable: Ending balance | 134,937,485 | 134,937,485 | 129,700,595 | ||
Loans receivable: Ending balance: individually evaluated for impairment | 301,728 | 301,728 | 811,780 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 134,635,757 | 134,635,757 | $ 128,888,815 | ||
One-To-Four Family Real Estate - Owner Occupied [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 129,442 | $ 148,305 | $ 155,957 | $ 156,975 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ (6,207) | $ 2,593 | $ (32,722) | $ (6,077) | |
Allowance for credit losses: Ending balance | $ 123,235 | 150,898 | $ 123,235 | 150,898 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 123,235 | $ 123,235 | $ 155,957 | ||
Loans receivable: Ending balance | 21,899,590 | 21,899,590 | 21,556,222 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 21,899,590 | 21,899,590 | $ 21,556,222 | ||
One-To Four-Family Real Estate - Non-Owner Occupied [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 263,838 | $ 284,327 | $ 307,400 | $ 267,895 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ 1,728 | $ 12,850 | $ (41,834) | $ 29,282 | |
Allowance for credit losses: Ending balance | $ 265,566 | 297,177 | $ 265,566 | 297,177 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 265,566 | $ 265,566 | $ 307,400 | ||
Loans receivable: Ending balance | 41,002,714 | 41,002,714 | 39,185,939 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 41,002,714 | 41,002,714 | $ 39,185,939 | ||
Construction [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 68,778 | $ 41,187 | $ 36,253 | $ 19,435 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ (25,324) | $ (3,957) | $ 7,201 | $ 17,795 | |
Allowance for credit losses: Ending balance | $ 43,454 | 37,230 | $ 43,454 | 37,230 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 43,454 | $ 43,454 | $ 36,253 | ||
Loans receivable: Ending balance | 4,730,363 | 4,730,363 | 2,562,823 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 4,730,363 | 4,730,363 | $ 2,562,823 | ||
Multi-Family Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 103,337 | $ 143,351 | $ 141,179 | $ 141,683 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ (3,533) | $ 349 | $ (41,375) | $ 2,017 | |
Allowance for credit losses: Ending balance | $ 99,804 | 143,700 | $ 99,804 | 143,700 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 99,804 | $ 99,804 | $ 141,179 | ||
Loans receivable: Ending balance | 17,807,636 | 17,807,636 | 18,699,192 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 17,807,636 | 17,807,636 | $ 18,699,192 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 234,399 | $ 313,838 | $ 222,886 | $ 269,940 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ 8,761 | $ (52,092) | $ 20,274 | $ (8,194) | |
Allowance for credit losses: Ending balance | $ 243,160 | 261,746 | $ 243,160 | 261,746 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 243,160 | $ 243,160 | $ 222,886 | ||
Loans receivable: Ending balance | 24,710,039 | 24,710,039 | 21,635,758 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 24,710,039 | 24,710,039 | $ 21,635,758 | ||
Home Equity And Second Mortgages [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 18,906 | $ 8,869 | $ 8,302 | $ 7,471 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ 13,560 | $ 779 | $ 24,164 | $ 2,177 | |
Allowance for credit losses: Ending balance | $ 32,466 | $ 9,648 | $ 32,466 | $ 9,648 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 32,466 | $ 32,466 | $ 8,302 | ||
Loans receivable: Ending balance | 2,029,022 | 2,029,022 | 1,880,546 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | $ 2,029,022 | $ 2,029,022 | $ 1,880,546 | ||
Secured Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Loans receivable: Ending balance | $ 150,250 | $ 150,250 | $ 158,512 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 150,250 | 150,250 | $ 158,512 | ||
Commercial Leases And Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 313,091 | $ 264,564 | $ 271,367 | $ 246,978 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ 13,100 | $ 3,444 | $ 54,824 | $ 21,030 | |
Allowance for credit losses: Ending balance | $ 326,191 | 268,008 | $ 326,191 | 268,008 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 326,191 | $ 326,191 | $ 271,367 | ||
Loans receivable: Ending balance | 18,351,128 | 18,351,128 | 19,231,496 | ||
Loans receivable: Ending balance: individually evaluated for impairment | 301,728 | 301,728 | 387,863 | ||
Loans receivable: Ending balance: collectively evaluated for impairment | 18,049,400 | 18,049,400 | $ 18,843,633 | ||
Commercial Lines Of Credit [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 43,274 | $ 49,274 | $ 50,333 | $ 46,381 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ (1,388) | $ 4,343 | $ (8,447) | $ 7,236 | |
Allowance for credit losses: Ending balance | $ 41,886 | 53,617 | $ 41,886 | 53,617 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 41,886 | $ 41,886 | $ 50,333 | ||
Loans receivable: Ending balance | 4,256,743 | 4,256,743 | 4,790,107 | ||
Loans receivable: Ending balance: individually evaluated for impairment | 423,917 | ||||
Loans receivable: Ending balance: collectively evaluated for impairment | 4,256,743 | 4,256,743 | $ 4,366,190 | ||
Non-allocated [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 245,973 | $ 70,323 | $ 167,361 | $ 142,280 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provisions (credits) | $ 9,303 | $ 56,691 | $ 87,915 | $ (15,266) | |
Allowance for credit losses: Ending balance | $ 255,276 | $ 127,014 | $ 255,276 | $ 127,014 | |
Allowance for credit losses: Ending balance: individually evaluated for impairment | |||||
Allowance for credit losses: Ending balance: collectively evaluated for impairment | $ 255,276 | $ 255,276 | $ 167,361 |
Commitments (Details)
Commitments (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Sep. 30, 2014 | |
Maximum exposure to credit loss for loan and lease commitments | $ 11,643,000 | $ 12,283,000 |
Fixed rate loan commitments | $ 4,226,000 | $ 5,660,000 |
Minimum [Member] | ||
Interest rate for unfunded loans and lease commitments | 1.75% | 1.75% |
Interest rate for fixed rate loan commitments | 1.75% | 3.00% |
Maximum [Member] | ||
Interest rate for unfunded loans and lease commitments | 6.75% | 6.75% |
Interest rate for fixed rate loan commitments | 6.75% | 6.75% |
Fair Value Measurements And F45
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Financial Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | $ 3,374 | $ 5,585 |
Investment securities available for sale | 6,428,700 | 8,403,565 |
Assets measured at fair value on a recurring basis | $ 6,432,074 | $ 8,409,150 |
Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | ||
Assets measured at fair value on a recurring basis | ||
Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | $ 3,374 | $ 5,585 |
Investment securities available for sale | 6,428,700 | 8,403,565 |
Assets measured at fair value on a recurring basis | $ 6,432,074 | $ 8,409,150 |
Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | ||
Assets measured at fair value on a recurring basis | ||
Obligations Of States And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 586,475 | $ 587,115 |
Obligations Of States And Political Subdivisions [Member] | Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | ||
Obligations Of States And Political Subdivisions [Member] | Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 586,475 | $ 587,115 |
Obligations Of States And Political Subdivisions [Member] | Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | ||
U.S. Government Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 5,842,225 | $ 7,816,450 |
U.S. Government Agency Securities [Member] | Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | ||
U.S. Government Agency Securities [Member] | Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 5,842,225 | $ 7,816,450 |
U.S. Government Agency Securities [Member] | Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale |
Fair Value Measurements And F46
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Financial Assets Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 841,463 | |
Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ||
Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ||
Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 841,463 | |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 301,728 | $ 811,780 |
Impaired Loans [Member] | Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ||
Impaired Loans [Member] | Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ||
Impaired Loans [Member] | Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 301,728 | $ 811,780 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 539,735 | |
Other Real Estate Owned [Member] | Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ||
Other Real Estate Owned [Member] | Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ||
Other Real Estate Owned [Member] | Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | $ 539,735 |
Fair Value Measurements And F47
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Additional Quantitative Information About Level 3) (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Sep. 30, 2014 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | $ 841,463 | ||
Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | 301,728 | $ 811,780 | |
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | 539,735 | ||
Level 3 (Significant Unobservable Inputs) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | 841,463 | ||
Level 3 (Significant Unobservable Inputs) [Member] | Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | 301,728 | 811,780 | |
Level 3 (Significant Unobservable Inputs) [Member] | Impaired Loans [Member] | Discounted Cash Flow [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | $ 301,728 | 387,863 | |
Valuation Technique | Discounted cash flow | ||
Unobservable Inputs | Probability of default | ||
Level 3 (Significant Unobservable Inputs) [Member] | Impaired Loans [Member] | Fair Value Of Collateral [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | $ 423,917 | ||
Range (Weighted Average) | 20.00% | ||
Level 3 (Significant Unobservable Inputs) [Member] | Impaired Loans [Member] | Fair Value Of Collateral [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | 20.00% | ||
Level 3 (Significant Unobservable Inputs) [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | $ 539,735 | ||
Level 3 (Significant Unobservable Inputs) [Member] | Other Real Estate Owned [Member] | Fair Value Of Collateral [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on a nonrecurring basis | $ 539,735 | ||
Valuation Technique | [1] | Fair Value of collateral | |
Unobservable Inputs | [2] | Appraisal adjustments | |
Range (Weighted Average) | 20.00% | ||
Level 3 (Significant Unobservable Inputs) [Member] | Other Real Estate Owned [Member] | Fair Value Of Collateral [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | 20.00% | ||
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally includes various Level III inputs which are not identifiable. | ||
[2] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Fair Value Measurements And F48
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Estimated Fair Values Of Financial Instruments) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | $ 6,428,700 | $ 8,403,565 |
Fair Value | 2,749,736 | 2,740,940 |
Mortgage-backed securities available for sale | 3,374 | 5,585 |
Advances from borrowers for taxes and insurance | 710,365 | 633,159 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 8,282,767 | 9,639,943 |
Investment securities available for sale | 6,428,700 | 8,403,565 |
Fair Value | 2,768,553 | 2,772,470 |
Mortgage-backed securities available for sale | 3,374 | 5,585 |
FHLB stock | 131,900 | 302,500 |
Cash surrender value of life Insurance | 307,776 | 286,762 |
Loans receivable, net | 133,129,811 | 128,030,483 |
Accrued interest receivable | 554,445 | 583,389 |
Deposits | 129,111,987 | 127,860,561 |
Advances from borrowers for taxes and insurance | 710,365 | 633,159 |
Accrued interest payable | 95,306 | 71,341 |
Fair Market Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 8,282,767 | 9,639,943 |
Investment securities available for sale | 6,428,700 | 8,403,565 |
Fair Value | 2,749,736 | 2,740,940 |
Mortgage-backed securities available for sale | 3,374 | 5,585 |
FHLB stock | 131,900 | 302,500 |
Cash surrender value of life Insurance | 307,776 | 286,762 |
Loans receivable, net | 139,643,000 | 134,453,483 |
Accrued interest receivable | 554,445 | 583,389 |
Deposits | 129,111,987 | 127,748,562 |
Advances from borrowers for taxes and insurance | 710,365 | 633,159 |
Accrued interest payable | 95,306 | 71,341 |
Level 1 (Quoted Prices In Active Markets For Identical Assets) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 8,282,767 | $ 9,639,943 |
Mortgage-backed securities available for sale | ||
FHLB stock | $ 131,900 | $ 302,500 |
Cash surrender value of life Insurance | 307,776 | 286,762 |
Accrued interest receivable | 554,445 | 583,389 |
Deposits | 59,733,987 | 57,486,788 |
Advances from borrowers for taxes and insurance | 710,365 | 633,159 |
Accrued interest payable | 95,306 | 71,341 |
Level 2 (Significant Other Observable Inputs) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale | 6,428,700 | 8,403,565 |
Fair Value | 2,749,736 | 2,740,940 |
Mortgage-backed securities available for sale | $ 3,374 | $ 5,585 |
Level 3 (Significant Unobservable Inputs) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Mortgage-backed securities available for sale | ||
Loans receivable, net | $ 139,643,000 | $ 134,453,483 |
Deposits | $ 69,378,000 | $ 70,261,774 |
Capital Requirements (Narrative
Capital Requirements (Narrative) (Details) - USD ($) | 9 Months Ended | ||
Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | |
Common equity Tier 1 capital ratio | 4.50% | ||
Tier 1 capital ratio | 6.00% | 4.00% | |
Total capital ratio | 8.00% | ||
Tier 1 leverage ratio | 4.00% | ||
Risk weight ratio for past due or nonaccrual exposures | 150.00% | ||
Consolidated assets | $ 154,625,584 | $ 152,187,051 | |
Transition period | 2 years | ||
Capital conservation buffer | 2.50% | ||
Future common equity Tier 1 capital ratio | 7.00% | ||
Future Tier 1 capital ratio | 8.50% | ||
Future total capital ratio | 10.50% | ||
Future yearly increase to capital ratios | 0.625% | ||
Maximum [Member] | |||
Consolidated assets | $ 15,000,000,000 |
Capital Requirements (Company's
Capital Requirements (Company's Actual Regulatory Capital Levels Compared With Regulatory Capital Requirements) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Capital Requirements [Abstract] | ||
Common equity Tier 1 capital to total risk-weighted assets, Actual, Amount | $ 22,354 | |
Common equity Tier 1 capital to total risk-weighted assets, For Capital Adequacy Purposes, Amount | 4,708 | |
Common equity Tier 1 capital to total risk-weighted assets, To be well Capitalized under Prompt Corrective Action Provisions, Amount | 6,801 | |
Tier 1 capital to total risk-weighted assets, Actual, Amount | 22,354 | |
Tier 1 capital to total risk-weighted assets, For Capital Adequacy Purposes, Amount | 6,278 | |
Tier 1 capital to total risk-weighted assets, To be well Capitalized under Prompt Corrective Action Provisions, Amount | 8,370 | |
Total capital to total risk-weighted assets, Actual, Amount | 23,661 | |
Total capital to total risk-weighted assets, For Capital Adequacy Purposes, Amount | 8,370 | |
Total capital to total risk-weighted assets, To be well Capitalized under Prompt Corrective Action Provisions, Amount | 10,463 | |
Tier 1 leverage capital to average assets, Actual, Amount | 22,354 | |
Tier 1 leverage capital to average assets, For Capital Adequacy Purposes, Amount | 6,263 | |
Tier 1 leverage capital to average assets, To be well Capitalized under Prompt Corrective Action Provisions, Amount | $ 7,829 | |
Common equity Tier 1 capital to total risk-weighted assets, Actual, Ratio | 21.37% | |
Common equity Tier 1 capital to total risk-weighted assets, For Capital Adequacy Purposes, Ratio | 4.50% | |
Common equity Tier 1 capital to risk-weighted assets, To be well Capitalized under Prompt Corrective Action Provisions, Ratio | 6.50% | |
Tier 1 capital to total risk-weighted assets, Actual, Ratio | 21.37% | |
Tier 1 capital to total risk-weighted assets, For Capital Adequacy Purposes, Ratio | 6.00% | 4.00% |
Tier 1 capital to total risk-weighted assets, To be well Capitalized under Prompt Corrective Action Provisions, Ratio | 8.00% | |
Total capital to total risk-weighted assets, Actual, Ratio | 22.62% | |
Total capital to total risk-weighted assets, For Capital Adequacy Purposes, Ratio | 8.00% | |
Total capital to total risk-weighted assets, To be well Capitalized under Prompt Corrective Action Provisions, Ratio | 10.00% | |
Tier 1 leverage capital to average assets, Actual, Ratio | 14.28% | |
Tier 1 leverage capital to average assets, For Capital Adequacy Purposes, Ratio | 4.00% | |
Tier 1 leverage capital to average assets, To be well Capitalized under Prompt Corrective Action Provisions, Ratio | 5.00% |
Capital Requirements (Bank's Eq
Capital Requirements (Bank's Equity Under Accounting Principles To Regulatory Capital) (Details) - USD ($) | Jun. 30, 2015 | Sep. 30, 2014 |
Total equity | $ 23,418,538 | $ 22,693,777 |
Tier 1 capital, Total | 22,354,000 | |
Total risk-based capital | 23,661,000 | |
Eureka Bank [Member] | ||
Total equity | 22,249,000 | 21,972,000 |
Unrealized loss on securities available-for-sale | 105,000 | 121,000 |
Tier 1 capital, Total | 22,354,000 | 22,093,000 |
Allowable allowances for loan and lease losses | 1,307,000 | 1,234,000 |
Total risk-based capital | $ 23,661,000 | $ 23,327,000 |